History

The OmiseGO blockchain team has been involved in the Ethereum community from its very beginning. Starting in 2015, Omise Blockchain Lab began research work focusing primarily on scalability. By the end of 2016, research had expanded into proof-of-stake (PoS) consensus design and the OmiseGO project was launched in 2017.

​How was OmiseGO launched?​

Funds were raised through the sale of OMG tokens in June 2017. However, a token presale offered to the earliest OmiseGO community (with no preferential pricing for anybody) received such high interest that the goal amount of $25 million was raised just through that.

It is interesting to note that far more money could have been raised, but the team chose not to take more money than supposedly necessary ($25 million was the estimated amount to create and launch the network). No marketing or promotion was done during this sale, to enable people to buy in because they believed in the long-term vision, including not offering discounts to incentivize people to buy more tokens.

Token allocation & airdrop

Total supply created = 140,245,398.245132780789239631
https://etherscan.io/token/OmiseGO__

During the crowdsale period ("OMG token creation period"), up to a total of USD $25 million (Maximal Launch Quantity) equivalent of OMG were to be created by the smart contract, all equal value and functionality, but divided by the smart contract into different pools, for both public and private distribution:

Public

  1. Sale [65.1% of OMG issued]
  2. Airdrop [5% of OMG issued]

Airdrop

5% of the total amount of OMG tokens created were designated for an Airdrop, both to encourage wider adoption of decentralized network operation and as a thank you to the Ethereum community to raise awareness and keep community incentives aligned. These OMG tokens were automatically distributed in September 2017, to addresses which held more than 0.1 ETH as of block 3988888 on 7th July. Over 450,000 addresses received OMG tokens (approximately 0.075 OMG per 1 ETH).

WARNING

There are no more airdrops planned. Beware of scams that advertise a future OMG airdrop and require the recipient to take action.

Private

  1. OmiseGO reserve [20% of OMG issued] Directly released by the smart contract to OmiseGO for future costs and uses including use for network validation as part of the development and execution of the project. These OMG are locked through a smart contract function and may not be transacted by OmiseGO for a period of 1 year, starting from the end of the creation period.
  2. Team [9.9% of OMG issued] Reserved for team members and key contributors who worked to develop the ideas, supporting structures, and actual implementations of the OMG Project. Locked for 1 year.

TBD : add links to the private wallets for people to check them out